What Was the Real Reason Behind the Last Bitcoin Surge? The Analysis Company Listed the Causes in Detail!

Crypto analysis firm QCP Capital has published a comprehensive market assessment following Bitcoin's all-time high.

The company, noting that Bitcoin was trading at $118,000 this morning, stated that this level is an indicator of both the enthusiasm in the market and the structural robustness.

According to QCP Capital, the first macro driving force behind the rise is the tariffs reintroduced by the Trump administration. The company notes that producers and exporters are accelerating imports, stocking up, and increasing production before the new taxation period. This frontloading process has led to a significant expansion in trade and production credits.

The report stated, "Will Trump postpone the application again? It is uncertain. However, these threats and postponement cycles are positively increasing economic uncertainty. Business confidence and production indices are still in the growth zone."

The rise in copper prices, seen as one of the leading indicators of industrial health, supports this view. This commodity, referred to as "Doctor Copper," indicates an increase in industrial demand and improving liquidity conditions.

According to QCP Capital, the second significant macro development triggering the rise of Bitcoin is the acceleration of the period of fiscal dominance in the US. The company points out that economic activities continue to expand despite high interest rates.

The U.S. Treasury Department's "Activist Issuance Strategy" of issuing short-term bonds to repurchase long-term debt is rebalancing the debt structure and reducing interest volatility. This creates a more predictable environment for financial markets.

In the report, it was stated that "Short-term bonds are almost seen as cash equivalents. The limited nature of long-term issuances keeps the MOVE index low while tightening credit risk premiums. This supports the gradual rise of financial assets."

QCP Capital points out that before calling the market enthusiasm a "bubble," it is important to note that this could actually be an indicator of mass adoption. In an environment where copper and global stock indices are hitting record highs, it is considered natural for monetary value preservation tools like gold and Bitcoin to rise similarly.

The company stated that entries into ETFs and public crypto treasuries have outpaced token issuance and miner sales. According to analysts, indicators like SharpLink, which absorbs STRK shares and ETH-related sales, suggest that this structural demand is ongoing.